515008

Modern Insulator share price & financials

Price
₹503.5
Market cap
₹2.1k Cr
Sector
Capital Goods

What Modern Insulator does

Modern Insulators Limited operates two manufacturing divisions: an Insulators Division at Abu Road (Sirohi district, Rajasthan) that serves the power transmission and distribution equipment industry, and a Terry Towels Division at Sanand (Ahmedabad, Gujarat) that makes textile terry-towel products. It also holds a wholly-owned subsidiary, Modern Composites Private Limited, set up to manufacture composite insulators, and has entered three joint-venture arrangements — including one with Shriji Designs to pursue railway EPC tenders — to extend into adjacent infrastructure-linked opportunities. The company previously also ran a Yarn Division, which was demerged into a separate listed entity, Modern Polytex Limited.

Segments

  • Insulators Division
  • Terry Towels Division
Manufacturing plants
2 (Insulators Division at Abu Road, Rajasthan; Terry Towels Division at Sanand, Gujarat)
Wholly-owned subsidiaries
1 (Modern Composites Private Limited, manufacturing composite insulators)
Joint ventures
3 (Shriji Design-MIL for railway EPC tenders; SEC-MIL with Sikka Engineering Company; Akhandlamani-MIL)
Geographic footprint
Operations spread across Rajasthan and Gujarat, with corporate head office in Mumbai, Maharashtra
Founded 1982Headquarters Mumbai, Maharashtra Company website

Quarterly results

Q1 FY27: revenue up 32.6%, net profit up 81.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue115 125 160 141 177 +54%199 +59%202 +26%187 +33%
EBITDA5 10 18 13 19 +280%32 +220%32 +78%30 +131%
Net profit13 9 9 16 18 +38%25 +178%25 +178%29 +81%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +281.6% 1Y

₹100₹200₹300₹400₹500₹600Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹117.15 on 10 Sept 2025 → ₹447. High ₹571.5 (24 Jun 2026), low ₹115.65 (11 Sept 2025).

Financials, as filed

Revenue grew 18.6% a year over 3 years, FY23 to FY26. Operating margin widened to 13.4%.

Year endingFY23FY24FY25FY26
Revenue₹431 Cr₹443 Cr₹504 Cr₹719 Cr
Operating profit₹26 Cr₹35 Cr₹38 Cr₹96 Cr
Operating margin6.0%7.9%7.5%13.4%
Interest₹4 Cr₹4 Cr₹4 Cr₹5 Cr
Depreciation₹8 Cr₹8 Cr₹8 Cr₹8 Cr
Net profit₹28 Cr₹36 Cr₹39 Cr₹84 Cr
Net margin6.5%8.1%7.7%11.7%
Cash from operations₹23 Cr₹11 Cr₹40 Cr₹52 Cr
Free cash flow₹22 Cr₹10 Cr₹35 Cr₹44 Cr
ROCE8.0%9.0%9.0%20.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹47 Cr₹47 Cr₹47 Cr₹47 Cr₹47 Cr₹47 Cr
Reserves₹293 Cr₹315 Cr₹343 Cr₹380 Cr₹448 Cr₹502 Cr
Borrowings₹24 Cr₹26 Cr₹8 Cr₹19 Cr₹33 Cr₹60 Cr
Other liabilities₹128 Cr₹119 Cr₹106 Cr₹108 Cr₹139 Cr₹148 Cr
Total liabilities₹491 Cr₹507 Cr₹505 Cr₹554 Cr₹667 Cr₹757 Cr
Fixed assets₹182 Cr₹175 Cr₹168 Cr₹161 Cr₹171 Cr₹156 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹4 Cr₹1 Cr
Investments₹9 Cr₹10 Cr₹5 Cr₹24 Cr₹57 Cr₹119 Cr
Other assets₹300 Cr₹322 Cr₹331 Cr₹370 Cr₹435 Cr₹481 Cr
Total assets₹491 Cr₹507 Cr₹505 Cr₹554 Cr₹667 Cr₹757 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs trimmed −0.26 pp while the public added +0.21 pp.

Promoters
60.2%
FIIs
0.4%
DIIs
1.1%
Public
38.3%

Since Jun 2025

  • DIIs −0.26 pp
  • Public +0.21 pp
  • FIIs +0.07 pp

How it drifted, 12 quarters

Over this window DIIs fell from 2.2% to 1.1% — −1.1 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 60.2%, FIIs 0.3%, DIIs 2.2%, Public 37.3%.Dec '23: Promoters 60.2%, FIIs 0.3%, DIIs 2.2%, Public 37.3%.Mar '24: Promoters 60.2%, FIIs 0.3%, DIIs 1.9%, Public 37.5%.Jun '24: Promoters 60.2%, FIIs 0.3%, DIIs 1.4%, Public 38.1%.Sep '24: Promoters 60.2%, FIIs 0.3%, DIIs 1.3%, Public 38.1%.Dec '24: Promoters 60.2%, FIIs 0.3%, DIIs 1.3%, Public 38.1%.Mar '25: Promoters 60.2%, FIIs 0.3%, DIIs 1.3%, Public 38.1%.Jun '25: Promoters 60.2%, FIIs 0.3%, DIIs 1.3%, Public 38.1%.Sep '25: Promoters 60.2%, FIIs 0.3%, DIIs 1.3%, Public 38.1%.Dec '25: Promoters 60.2%, FIIs 0.3%, DIIs 1.3%, Public 38.2%.Mar '26: Promoters 60.2%, FIIs 0.3%, DIIs 1.2%, Public 38.3%.Jun '26: Promoters 60.2%, FIIs 0.4%, DIIs 1.1%, Public 38.3%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Modern Insulator above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Vijay Beneficiary Trust (Through Trustee Sachin Ranka) 34.99%unchanged
Jay Beneficiary Trust (Through Trustee Sachin Ranka) 13.85%unchanged
Pride Mercantiles Pvt Ltd 11.33%unchanged
Vijay Aggarwal 1.06%unchanged
Mahendra Girdharilal Wadhwani 1.04%unchanged
Sachin Ranka 0.00%unchanged
Smriti Ranka 0.00%unchanged
Ajaymeru Trading & Investments Private Limited 0.00%unchanged
Shreyans Ranka 0.00%unchanged
Suvrat Ranka 0.00%unchanged
Vulvan Traders Private Limited 0.00%unchanged
Trishul Traders Private Limited 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹447, this stock must grow earnings at 16% every year for 7 years. Our analysis caps realistic growth at ~44%. At that growth it is worth ₹1715 — upside of 284%.

Growth the price implies
16.2% a year
for 7 years, fading to 4%
It has actually compounded at
44.2% a year
net profit, FY23–FY26 · EPS 43.7%
The gap
-0.3 pp
284% downside if it only repeats history
Price today ₹447 Value at the reference growth ₹1,715.4

Change the assumptions yourself →

Learn to analyse Modern Insulator

Guides on how to read this kind of business and the numbers that matter.